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Sabic reports Q2 loss of 592 million
Al Sahara Global Petrochemicals Company "Sipkim" recorded record losses in the second quarter of 2026, amounting to 591.9 million Riyals, an increase of 249.82% compared to the same quarter of the previous year. Supply chain challenges, which led to an accumulation of unsold stock, caused a decline in sales volume despite higher product prices. Additionally, rising feedstock costs such as butane, ethylene, and propane impacted profit margins. Revenues for the quarter decreased year-over-year by 54.84%, reaching 860.9 million Riyals. The increase in costs, maintenance expenses, and investment-related procedures contributed to the deterioration of results, with the company posting a net loss of 807.2 million Riyals for the first half of the year, compared to profits in 2025.
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